Copayment
Partial payment of medical service expenses required in group health insurance, in addition to the membership fee. For example, for each visit of a physician a member may be required to pay $5, regardless of the expense of the services rendered. Or, for each prescription for drugs and medicines, the member may have to pay a flat $2 regardless of the actual cost.
Popular Insurance Terms
Relationship of incurred losses plus loss adjustment expense to earned premiums. ...
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Publication stipulating underwriting rules applicable for a given line of insurance, classifications of exposures within that line of insurance, and premium rates per classification. For ...
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Maximum amount of insurance coverage that an insurance company will underwrite in a particular geographic area. ...
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